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||||Page|
|---|---|---|---|
|Report ofthe Trustees|||I to 8|
|Independent
Examiner's||Report||
|Statement ofFinancial|Activities||10|
|Balance Sheet||||
|Cash Flow Statement|||12|
|Notes to the Cash Flosv||Statement|13|
|Notes to the Financial|Staten&eats||14to 26|
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|he last course fee increases were|he last course fee increases were|in the Autumn
of2022.They stand ah|in the Autumn
of2022.They stand ah|in the Autumn
of2022.They stand ah|
|---|---|---|---|---|
|40-week boat building||f)7350(Febrnaty 2023) and fl7950 (August 2023)|||
|12-week Furniture||f6,500(January|2023) and f6,950 (May aad September 2023)||
|12-week Advanced|Furniture|This is currently|being assessed and ivill be repaired|on the ivebsl te once|
|Making
2-day short courses||aJina) decision
f295|has been tttade||
|3-day short courses||f450|||
|5-day short courses||f595 - f975|||
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|fo|r the year en|ded 31August 2022||||
|---|---|---|---|---|---|
|||||2022|2021|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes||f.|||
|INCOME AND ENDOWMENTS FROM||||||
|Donations,
legacies aad grants||5,497|54,652|60,149|177,518|
|Other trading
activities||739,619||739,619|538,585|
|investment
income||29||29|396|
|Total||745,145|54,652|799,797|716,499|
|EXPENDITURE ON||||||
|Raising funds||346,009|712|346,721|436,874|
|Charitable
activities||||||
|Charitable
activities||437,796|28,572|466,368|337,507|
|Total||783,805|29,284|813,089|774,381|
|NET (EXPENDITURE)/ INCOME||(38,660)|25,368|(13,292)|(57,882)|
|Net movement
in funds||(38,660)|25,368|(13,292)|(57,882)|
|RECONCILIATION
OF FUNDS||||||
|Total funds brought forward||34,553|50|34,603|92,485|
|TOTAL FUNDS CARRIED FORWARD||(4,107)|25,418|21,311|34,603|
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||||||Bo|at Building Academy
Lim|at Building Academy
Lim|at Building Academy
Lim|ited|||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Cash Flow Statement||||||
||||||for|the year ended 31August|||2022|||
|||||||||||2022|2021|
||||||||||Note||f|
|Cash flows from|operating||activities|||||||||
|Net cash generated|by/ (used||in) operating||activities||||I|179,055|(27,082)|
|Cash flows from|investing||activities|||||||||
|Purchase oftangible
fixed assets||||||||||(22,811)|(56,608)|
|Interest received||||||||||29|396|
|Nct cash used in investing||activities||||||||(22,782)|(56,212)|
|Cash flows from|financing||activities|||||||||
|New loans in year|||||||||||220,000|
|Loan repayments|in year|||||||||(36,667)|(3,055)|
|Net cash (used in)/ provided|||by tinancing||activities|||||(36,667)|216,945|
|Change in cash and cash||equivalents||in|the|reporting|period|||119,606|133,651|
|Cash and cash equivalents|||at the beginning|||ofthe reporting||period||412,458|278,807|
|Cash and cash equivalents|||at the end|of|the|reporting|period|||532,064|412,458|
||||2022|2021|
|---|---|---|---|---|
||||f,|f,|
|Net expenditure
for the|reporting|period (as per the Statement of|||
|Financial Activities)|||(13,292)|(57,882)|
|Adjustments
for:|||||
|Depreciation
charges|||11,101|9,330|
|Interest received|||(29)|(396)|
|(Increase)/decrease|in stocks||(9,172)|3,344|
|(increase)/Decrease|in debtors||(12,758)|12,328|
|lncmase
in creditors|||203,205|6,194|
|Net cash used in operations|||179,055|(27,082)|
|ANALYSIS OF CHAN|GES IN NET FUNDS||||
|---|---|---|---|---|
|||At||At|
|||ISeptember||31August|
|||2021|Cash flow|2022|
|||f.||f.|
|Net cash|||||
|Cash at Bank||412,458|119,606|532,064|
|||412,458|119,606|532,064|
|Debt|||||
|Debts falling due within
Debts falling due after|1 year
1 year|(36,667)
~(1BO. 76|36667|(36,667)
~(1436»|
|Total debt||(216,945)|36,667|(180,278)|
|Total net cash||195,513|156,273|351,786|
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||DONATIONS) LEGACI|ES|AND GRANTS|||
|---|---|---|---|---|---|
|||||2022|2021|
||Donations|||14,027|35,316|
||Legacies
Grants|||46,122|15,000
127,202|
|||||60,149|177,518|
||Grants received, included|in the above, are as follows:||2022|2021|
||Job Reteniion Scheme||||87,623|
||Shipwright
-WCS Grant
Garfield Weston Foundation||||5,000
5,000|
||Dorset Council|||40,000|14,143|
||Dorset Growth
Hub||||5,000|
||The Foyle Foundation
Government
CBILSloan interest gmnt
Coronavirus
HMRC Furlough
Grant|||5,410
712|10,000
436|
|||||46,122|127,202|
|4.|OTHER TRADING ACTIVITIES|||2022|2021|
|||||f.||
||Coutae income|||495,361|369,787|
||Mateiials|||36,670|25,511|
||Woodworking
skills
Wood|||118,108
45,770|94,288
22,104|
||Accommodation|||37,622|20,533|
||Washing
machine money
Miscellaneous|||943
5,145|6,362|
|||||739,619|538,585|
|5.|INVESTMENT INCOME|||2022|2021|
|||||f.|f.|
||Interest receivable
—trading|||29|396|
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|Othertrading activities|||
|---|---|---|
||2022|2021|
|Opening
stock
Closing stock
Staff costs|33,477
(42,649)
343,898|36,821
(33,477)
424,123|
|Bad debts
Depreciation|894
11,101|77
9,330|
||346,721|436,874|
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||||2022|2021|
|---|---|---|---|---|
|Depreciation|- owned|assets|11,101|9,330|
|Independent|examination||2,280|2,040|
|Accounts preparation||fees||540|
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|STAI'F COSTS|||||||
|---|---|---|---|---|---|---|
||||||2022|2021|
|Wages and salaries|||||310,463|388,648|
|Social security|||||26,666|28,457|
|Other pension costs|||||6,769|7,018|
||||||343,898|424,123|
|The average monthly|number ofemployees||during|the year was as follows:|||
||||||2022|2021|
||||||No.|No.|
|Head count|||||13|13|
|No employees
received|emoluments|in excess of860,000(2021 —Nil).|||||
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|COMPARATIVES FOR THE STATEMENT OF FI|COMPARATIVES FOR THE STATEMENT OF FI|NANCIAL ACTIVITIES|||
|---|---|---|---|---|
|INCOME AND ENDOWMENTS I'ROM||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||f,|||
|Donations
and legacies||107,062|70,456|177,518|
|Other trading
activities||538,585||538,585|
|Investment
income||396||396|
|Total||646,043|70,456|716,499|
|EXPENDITURE ON|||||
|Raising
funds||436,874||436,874|
|Charitable
activities|||||
|Charitable
activities||296,138|41,369|337,507|
|Total||733,012|41,369|774,381|
|NET INCOME/ (EXPENDITURE)||(86,969)|29,087|(57,882)|
|Transfers
between funds||39,037|(39,037)||
|Net movement
in funds||(47,932)|(9,950)|(57,882)|
|RECONCILIATION|OF FUNDS||||
|Total funds brought|forward|82,485|10,000|92,485|
|TOTAL FUNDS CARRIED FORWARD||34,553|50|34,603|
##
|||Improvements|Plant|Fixtures||
|---|---|---|---|---|---|
|||to|and|and||
||COST|properly|ntachinery|tittings|Totals|
||At 1 September 2021
Additions|51,928
15,208|15,123
7,603|408|67,459
22,811|
||At 31 August 2022|67,136|22,726|408|90,270|
||DEPRECIATION|||||
||At 1 September 2021
Charge for year|5,193
6,713|10,486
4,252|272
136|15,951
11,101|
||At 31 August 2022|11,906|14,738|408|27,052|
||NET BOOK VALUE
At 31 August 2022|55,230|7,988||63,218|
||At 31 August 2021|46,735|4,637|136|51,508|
|15.|STOCKS|||||
|||||2022|2021|
||Stocks|||42,649|33,477|
|16.|DEBTORS:AMOUNTS FALLING|DUE WITHIN ONE|YEAR|||
|||||2022|2021|
||Service charges due
Other debtors
Prepayments|||26,080
12,735|13,914
5,079
7,064|
|||||38,815|26,057|
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|CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE YE|AR||
|---|---|---|---|
|||2022|2021|
|Bank loans and
Trade creditors|overdrafts
(see note 19)|36,667
21,683|36,667
14,680|
|Social security
Other creditors|and other taxes|6,689
7,722|8,306
6,312|
|Service charges paid in arrears
Accruals
and deferred income||34,835
387,480|63,935
151,269|
|||495,076|281,169|
|Deferred income brought
New invoices raised|Deferred income brought
New invoices raised|forward|137,262
707,236|
|---|---|---|---|
|Amounts|released||(462,721)|
|Deferred|income carried|forward||
||||381,777|
||||2022|2021|
|---|---|---|---|---|
||||f,|8|
|Bank loans (see note
Accruals
and deferred||19)
income|143,611
16,748|180,278
27,450|
||||160,359|207,728|
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|An analysis|ofthe maturity ofloans is given below:|2022|2021|
|---|---|---|---|
|Amounts
falling due within one year on demand:||||
|Bank loans||36,667|36,667|
|Amounts
falling due between
two and 5 years:||||
|Bank loans|—2-5 years|143,611|146,667|
|Amounts
falling due in more than five years;||||
|Repayable|by instalments:|||
|Bank loans|due in more than 5 years by instalments||33,611|
|||143,611|180,278|
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|20.
LEASING AGRE|EMENTS|||||
|---|---|---|---|---|---|
|Minimum
lease payments|under non-cancellable|operating|leases fall due as follows:|||
|||||2022|2021|
|Within one year||||66,000|66,000|
|Between one and five|years|||224,250|230,750|
|ln moiv, than five years|||||59,500|
|||||290,250|356,250|
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|||At|Net|Transfer|At|
|---|---|---|---|---|---|
|||1September|movements|between|31August|
|||2021|in funds|funds|2022|
||||f.|8||
|General|fund|10,693|(23,996)||(13,303)|
|Bursary|(Designated)|23,860|(14,664)||9,196|
|||34,553|(38,660)||(4,107)|
|Restricted funds||||||
|Bursary||50|25,368||25,418|
|TOTAL|FUNDS|34,603|(13,292)||21,311|
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
||||f,|f.|
|General|fund|745,058|(769,054)|(23,996)|
|Bursary|(Designated)|87|(14,751)|(14,664)|
|||745,145|(783,805)|(38,660)|
|Restricted funds|||||
|Bursary||54,652|(29,284)|25,368|
|TOTALFUNDS||799,797|(813,089)|(13,292)|
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|Unrestrict|ed
funds|||||
|---|---|---|---|---|---|
|||At 1|Net|Transfers|At 31|
|||September|movements|between|August|
|||2020
f|in fundsf|funds
f,|2021
f|
|General|fund|62,485|(90,829)|39,037|10,693|
|Bursary|(Designated)|20,000|3,860||23,860|
|||82,485|(86,969)|39,037|34,553|
|Restricted|funds|||||
|Bursary||10,000|(17,950)|8,000|50|
|Covid —19Building Works|||47,037|(47,037)||
|||10,000|29,087|(39,037)|50|
|TOTAL|17'UNDS|9, 8.|~87.878||34,603|
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in fundsf|
|General fund|642,183|(733,012)|(90,829)|
|Bursary (Designated)|3,860||3,860|
||646,043|(733,012)|(86,969)|
|Restricted funds||||
|Bursary|50|(18,000)|(17,950)|
|Covid —Building Works|70,406|(23,369)|47,037|
|TOTAL FUNDS|716,499|(774,381|57,882|
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||||At 1|Net|Transfers|At|
|---|---|---|---|---|---|---|
||||September|movement|between|31August|
||||2020|in funds|funds|2022|
|||||||f,|
|Unrestricted||funds|||||
|General|fund||62,485|(114,825)|39,037|(13,303)|
|Bursary|(Designated)||20,000|(10,804)||9,196|
||||82,485|(125,629)|39,037|(4,107)|
|Restricted funds|||||||
|Bursary|||10,000|7,418|8,000|25,418|
|Covid-19 Building Works||||47,037|(47,037)||
||||10,000|54 455|(39,037)|25,418|
|TOTALFUNDS|||92,485|(71,174)||21,311|
|Unrestricted|Unrestricted|funds||||
|---|---|---|---|---|---|
||||Incoming|Resources|Movement|
||||Resources|expended|in funds|
||||||f.|
|General|fund||1,387,241|(1,502,066)|(114,825)|
|Bursary|(Designated)||3,947|(14,751)|(10,804)|
||||1,391,188|(1,516,817)|(125,629)|
|Restricted funds||||||
|Bursary|||52,573|(47,284)|7,418|
|Covid-19 Building Works|||70,406|(23,369)|47,037|
||||122,979|(70,653)|54,455|
|TOTAL|FUNDS||1,516,296|(1,587,470)|(71,174)|
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